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Contents Question-1: Question-2: Question-3: Question-4: References: Auditing and Assurance - Question 1 As per IAS-37; Provisions, Contingent Asset and Liabilities, management is responsible to account for it and reflect them in financial statements. Since the claim has been filed but not yet approved, no adjustment is needed. But it needs to disclose in F/S because it would have a significant effect on users of financial…
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